Lake Street Advisors Group LLC Has $427,000 Position in M&T Bank Co. (NYSE:MTB)

Lake Street Advisors Group LLC boosted its position in M&T Bank Co. (NYSE:MTB) by 7.1% during the first quarter, Holdings Channel reports. The institutional investor owned 2,938 shares of the financial services provider’s stock after purchasing an additional 196 shares during the quarter. Lake Street Advisors Group LLC’s holdings in M&T Bank were worth $427,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new position in M&T Bank during the fourth quarter worth $25,000. General Partner Inc. acquired a new position in shares of M&T Bank during the 1st quarter worth about $27,000. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank in the 1st quarter valued at about $30,000. BKM Wealth Management LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at about $32,000. Finally, Planned Solutions Inc. bought a new stake in M&T Bank during the fourth quarter worth about $33,000. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MTB shares. DA Davidson upped their price objective on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Piper Sandler boosted their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Royal Bank of Canada lifted their price target on M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods upped their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $170.35.

Insider Activity

In related news, Director Kirk W. Walters sold 16,179 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 16,179 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the sale, the director now owns 35,480 shares in the company, valued at $5,481,660. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,915 shares of company stock worth $14,497,759. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

Shares of M&T Bank stock traded down $0.49 on Wednesday, reaching $171.68. 1,281,546 shares of the stock were exchanged, compared to its average volume of 1,047,986. The firm’s 50 day moving average is $151.51 and its 200-day moving average is $144.50. The firm has a market cap of $28.64 billion, a PE ratio of 11.61, a P/E/G ratio of 4.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. M&T Bank Co. has a one year low of $108.53 and a one year high of $175.00.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $5.12 EPS. As a group, analysts anticipate that M&T Bank Co. will post 14.12 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.35 per share. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.15%. M&T Bank’s payout ratio is presently 36.51%.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.